Progress in addressing money laundering and terrorist financing (ML/TF) risks remains paralysed in many countries, according to the latest release of the Basel AML Index.
The Basel AML Index is an independent ranking that assesses countries’ ML/TF risks and capacity to counter them. It draws on 18 indicators in five domains measuring different factors that contribute to high ML/TF risks.
This series of four publications are the PDF versions of a flexible and practical learning resource developed by the Green Corruption programme at the Basel Institute on Governance. The introductory series covers:
The series is broadly aimed at:
Three critical imperatives to tackle the hundreds of billions in illegal funds flowing annually from environmental crimes arose from the latest OECD-Basel Institute virtual dialogue on 17 March.
The Basel Institute on Governance has released a new eLearning course on Terrorist Financing.
Developed in cooperation with the Egmont Group of Financial Intelligence Units (FIUs), the course is aimed at analysts, investigators, prosecutors, representatives of FIUs and professionals in the field of anti-money laundering and counter financing of terrorism (AML/CFT).
The Basel Institute is delighted about and welcomes the Wolfsberg Group's endorsement of the United for Wildlife Financial Taskforce Mansion House Declaration. This is a significant step in gaining the active support of the financial sector in combating the multibillion-dollar illegal wildlife trade.
The Basel Institute is the implementing partner of the intelligence-sharing mechanism of the United for Wildlife Financial Taskforce, a groundbreaking initiative of the Royal Foundation.
An interview with Gemma Aiolfi, Head of Compliance, Corporate Governance and Collective Action at the Basel Institute, has been published by KMPG.
The interview – "From the top: effective anti-corruption measures and the need for change" – discusses the challenges facing banks in combating financial crime, including the need for senior management to lead by example.
The private sector plays a pivotal role in fighting corruption worldwide. Transparency International’s Global Corruption Report 2009 documents in unique detail the many corruption risks for businesses, ranging from small entrepreneurs in Sub-Saharan Africa to multinationals from Europe and North America.
The Panama Papers provided proof to the world of something that had long been suspected: the secrecy havens – jurisdictions in which global financial flows were hidden in ways that not even those entrusted with enforcing the laws and regulations of countries around the world could detect – were being used by those engaged in a host of nefarious activities, from tax evasion to corruption and even to child pornography.
Non-state actors are of fundamental importance in the prevention and combating of corruption within asset recovery processes. Their roles and responsibilities were considered during an experts’ meeting hosted by the Basel Institute on Governance and the International Anti-Corruption Academy in September 2010.
This paper examines how the Wolfsberg Anti-Money Laundering Principles came into being. It charts their subsequent development and also looks at what the Wolfsberg Group of banks may tackle in the future.